DailySpaceKawan Renergy Berhad
0307 · ACE Market创业板（ACE Market） · annual reports 2024 to 2025, 896 entries read2024 至 2025 年报，共读出 896 条
The company这家公司
Kawan Renergy designs, fabricates, installs and commissions industrial process equipment, industrial process plants, and renewable energy and co-generation plants. It also generates and sells electricity through the Bercham landfill biogas plant. The acquisition of I Precision added precision engineering and the manufacturing and engineering of high-technology products.Kawan Renergy 从事工业流程设备、工业流程厂房、可再生能源及热电联产厂的设计、制造、安装与调试。集团也通过 Bercham 垃圾填埋场沼气发电厂发电及售电。收购 I Precision 后，业务加入精密工程及高科技产品的制造与工程服务。
Source: annual report 2024, pages 31, 84; annual report 2025, pages 28, 29.出处：2024 年年报第 31、84 页；2025 年年报第 28、29 页。
Others comprise electricity sales and precision engineering. I Precision was consolidated from the second quarter of the financial year.其他业务包括售电与精密工程。I Precision 从该财政年度第二季度起纳入合并报表。
Source: annual report 2025, page 30.出处：2025 年年报第 30 页。
One customer in the design, fabrication, installation and commissioning business contributed RM30.1 million in 2025, compared with RM16.2 million in 2024.设计、制造、安装与调试业务的一名客户在 2025 年贡献 RM30.1 million，2024 年为 RM16.2 million。
Source: annual report 2025, pages 31, 164.出处：2025 年年报第 31、164 页。
Lim Thou Lai is the majority shareholder. The shareholding analysis in the 2025 report lists 363,660,000 shares, or 66.120%, compared with 368,660,000 shares, or 67.029%, in the 2024 report.Lim Thou Lai 是控股股东。2025 年报的股权分析列出其持有 363,660,000 股，占 66.120%；2024 年报列出 368,660,000 股，占 67.029%。
Source: annual report 2024, page 144; annual report 2025, page 173.出处：2024 年年报第 144 页；2025 年年报第 173 页。
The 2025 list of largest holders includes MAYBANK NOMINEES (TEMPATAN) SDN BHD, pledged securities account for ONE KL FAMILY OFFICE SDN. BHD., with 4,275,100 shares (0.777%), and MAYBANK SECURITIES NOMINEES (TEMPATAN) SDN BHD, pledged securities account for LAI HOE YAN, with 1,180,000 shares (0.214%). The 2024 list includes Maybank Nominees (Tempatan) Sdn. Bhd. pledged accounts for Chua Ray-Men with 4,275,100 shares (0.777%) and Yong Koon Seng with 2,370,100 shares (0.430%), and a Maybank Securities Nominees (Tempatan) Sdn. Bhd. pledged account for Lai Hoe Yan with 1,200,000 shares (0.218%).2025 年最大股东名单包括 MAYBANK NOMINEES (TEMPATAN) SDN BHD 旗下为 ONE KL FAMILY OFFICE SDN. BHD. 开设的抵押证券账户，持有 4,275,100 股（0.777%）；以及 MAYBANK SECURITIES NOMINEES (TEMPATAN) SDN BHD 旗下为 LAI HOE YAN 开设的抵押证券账户，持有 1,180,000 股（0.214%）。2024 年名单包括 Maybank Nominees (Tempatan) Sdn. Bhd. 旗下为 Chua Ray-Men 及 Yong Koon Seng 开设的抵押账户，分别持有 4,275,100 股（0.777%）及 2,370,100 股（0.430%）；另有 Maybank Securities Nominees (Tempatan) Sdn. Bhd. 旗下为 Lai Hoe Yan 开设的抵押账户，持有 1,200,000 股（0.218%）。
Source: annual report 2024, pages 144, 145; annual report 2025, pages 174, 175.出处：2024 年年报第 144、145 页；2025 年年报第 174、175 页。
Dato’ Ir Mohd Yusof bin Mohd Isa was appointed Independent Non-Executive Chairman on 1 September 2025. Wong Fee Sang joined the Board on 1 October 2025 as an Independent Non-Executive Director, and another Independent Non-Executive Director joined on 10 June 2025. The directors' report records the resignations of Liew Li Ping on 1 June 2025, Dr. Chuah Chaw Teo on 3 June 2025 and Ngoi Evon on 14 September 2025.Dato’ Ir Mohd Yusof bin Mohd Isa 于 2025 年 9 月 1 日获委任为独立非执行主席。Wong Fee Sang 于 2025 年 10 月 1 日以独立非执行董事身份加入董事会，另有一名独立非执行董事于 2025 年 6 月 10 日加入。董事报告记录 Liew Li Ping 于 2025 年 6 月 1 日辞任，Dr. Chuah Chaw Teo 于 2025 年 6 月 3 日辞任，Ngoi Evon 于 2025 年 9 月 14 日辞任。
Source: annual report 2025, pages 15, 20, 21, 89, 108.出处：2025 年年报第 15、20、21、89、108 页。
Revenue by business, 20252025 年各业务营业额占比
Source: annual report 2025, page 30.出处：2025 年年报第 30 页。
Major events大事记
Source: annual report 2024, page 31.出处：2024 年年报第 31 页。
Source: annual report 2024, page 111.出处：2024 年年报第 111 页。
Source: annual report 2024, pages 10, 80, 96.出处：2024 年年报第 10、80、96 页。
Source: annual report 2024, page 85.出处：2024 年年报第 85 页。
Source: annual report 2025, page 147.出处：2025 年年报第 147 页。
Source: annual report 2025, page 104.出处：2025 年年报第 104 页。
Source: annual report 2025, pages 15, 89.出处：2025 年年报第 15、89 页。
Source: annual report 2025, page 12.出处：2025 年年报第 12 页。
Source: annual report 2025, page 106.出处：2025 年年报第 106 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, equity and borrowings资产、权益与借款
20242024 年
Operations brought in RM1.3 million. The IPO raised RM33.0 million, and share issuance expenses were RM1.0 million. The group drew RM5.7 million of bankers’ acceptances and repaid RM7.7 million. It also repaid RM6.3 million of term loans and RM635,375 of hire purchase. Cash payments for property, plant and equipment were RM1.5 million, and dividends paid were RM10.0 million.营运带来 RM1.3 million。首次公开募股筹得 RM33.0 million，股份发行费用为 RM1.0 million。集团提取银行承兑汇票融资 RM5.7 million，偿还 RM7.7 million；另偿还定期贷款 RM6.3 million 及租购款 RM635,375。购置产业、厂房与设备的现金支出为 RM1.5 million，已付股息为 RM10.0 million。
Source: annual report 2024, page 93; annual report 2025, page 116.出处：2024 年年报第 93 页；2025 年年报第 116 页。
20252025 年
Operations used RM6.0 million. Cash payments for property, plant and equipment were RM4.7 million, and the acquisition of a subsidiary used RM2.4 million. Invoice financing drawings were RM8.1 million and repayments were RM2.8 million. The group repaid RM1.0 million of bankers’ acceptances and drew RM312,900 of a term loan. Dividends paid were RM6.9 million.营运使用 RM6.0 million。购置产业、厂房与设备的现金支出为 RM4.7 million，收购子公司使用 RM2.4 million。发票融资提取额为 RM8.1 million，偿还额为 RM2.8 million。集团偿还银行承兑汇票融资 RM1.0 million，并提取定期贷款 RM312,900。已付股息为 RM6.9 million。
Source: annual report 2025, pages 116, 117.出处：2025 年年报第 116、117 页。
Across the years历年合看
Loans and borrowings fell from RM10.7 million in 2023 to RM2.1 million in 2024, then rose to RM9.4 million in 2025. Cash and bank balances fell from RM13.6 million to RM11.8 million and then RM9.0 million. These balances exclude short-term deposits, which were RM31.2 million, RM45.6 million and RM32.6 million respectively. The company issued no new shares during 2025.贷款与借款由 2023 年的 RM10.7 million 降至 2024 年的 RM2.1 million，再升至 2025 年的 RM9.4 million。现金与银行结余由 RM13.6 million 降至 RM11.8 million，再降至 RM9.0 million。这些结余不包括短期存款；短期存款分别为 RM31.2 million、RM45.6 million 及 RM32.6 million。公司在 2025 年内没有发行新股。
Source: annual report 2024, pages 110, 132; annual report 2025, pages 108, 137, 158.出处：2024 年年报第 110、132 页；2025 年年报第 108、137、158 页。
Still to be spent尚待支出的资金
The 2025 IPO proceeds table shows RM12.4 million unused: RM5.0 million for the new 2MW power plant, RM2.5 million for improving Bercham Plant output, and RM4.9 million for working capital. The power plant allocation retained a period of 36 months from listing. The Bercham allocation period was extended from 15 months to 27 months, while working capital retained a period of 24 months.2025 年首次公开募股资金用途表列出尚未使用 RM12.4 million：新建 2MW 发电厂 RM5.0 million、改善 Bercham Plant 产量 RM2.5 million，以及营运资金 RM4.9 million。新发电厂拨款的使用期限仍为上市起 36 个月。Bercham 拨款期限由 15 个月延长至 27 个月，营运资金期限仍为 24 个月。
Source: annual report 2024, page 80; annual report 2025, page 104.出处：2024 年年报第 80 页；2025 年年报第 104 页。
Four years of figures四年数字
Group figures, in RM, as printed in the statements.集团数字，单位令吉，照财务报表所印。
| Group集团 | 2023 | 2024 | 2025 |
|---|---|---|---|
| RM令吉 | RM令吉 | RM令吉 | |
| Revenue营业额 | 98,378,448 | 113,117,788 | 135,793,393 |
| Profit before tax税前盈利 | 18,919,752 | 26,509,835 | 30,684,264 |
| Profit for the financial year本财政年度盈利 | – | 18,008,690 | 22,268,135 |
| Net cash from operating activities营运活动所得现金净额 | – | 1,260,002 | (6,038,748) |
| Purchase of property, plant and equipment购置产业、厂房与设备 | 4,215,896 | 1,824,469 | 7,102,555 |
| Dividends paid已付股息 | 13,000,000 | 10,000,000 | 6,875,000 |
| Total assets总资产 | 107,791,712 | 127,557,743 | 150,004,601 |
| Loans and borrowings贷款与借款 | 10,735,683 | 2,100,255 | 9,426,901 |
| Cash and bank balances现金与银行结余 | 13,584,050 | 11,782,630 | 8,958,156 |
| Total equity总权益 | 53,432,217 | 93,440,907 | 111,952,569 |
On a computer, hover over a figure for the report and page it is printed on.在电脑上把鼠标移到数字上，可看到它印在哪份年报的哪一页。
Said and done说过的与做到的
| What the reports said年报说要做的 | What later reports show之后年报显示的 | Status状态 |
|---|---|---|
| The 2024 report planned a 2MW biomass power plant at Factory 3, to be constructed in-house.2024 年报计划在 Factory 3 兴建一座 2MW 生物质发电厂，由集团自行建造。 | The 2025 report still described plans to advance the project and continue participating in the SEDA FiT 2.0 quota programme. The RM5.0 million IPO allocation remained unused.2025 年报仍表示计划推进项目，并继续参与 SEDA FiT 2.0 配额计划。首次公开募股拨出的 RM5.0 million 仍未使用。 Source: annual report 2024, page 31; annual report 2025, pages 29, 33, 104.出处：2024 年年报第 31 页；2025 年年报第 29、33、104 页。 | Allocation unused拨款尚未使用 |
| The 2024 IPO proceeds table allocated RM2.5 million to improve Bercham Plant output within 15 months from listing.2024 年首次公开募股资金用途表拨出 RM2.5 million，用于在上市起 15 个月内改善 Bercham Plant 产量。 | The 2025 report extended the period to 27 months from listing. The RM2.5 million allocation remained unused.2025 年报将期限延长至上市起 27 个月。该 RM2.5 million 拨款仍未使用。 Source: annual report 2024, page 80; annual report 2025, page 104.出处：2024 年年报第 80 页；2025 年年报第 104 页。 | Deadline extended; allocation unused期限已延长；拨款尚未使用 |
| The 2024 IPO proceeds table allocated RM500,000 to additional machinery within 12 months from listing.2024 年首次公开募股资金用途表拨出 RM500,000，计划在上市起 12 个月内购置额外机械。 | The 2025 table showed the RM500,000 fully used. The report said the allocation for an adjustable rotator was replaced with other machinery and tools.2025 年表格显示 RM500,000 已全数使用。年报表示，原定用于可调式旋转器的拨款改用于其他机械及工具。 Source: annual report 2024, page 80; annual report 2025, page 104.出处：2024 年年报第 80 页；2025 年年报第 104 页。 | Allocation used; equipment changed拨款已使用；设备有所更改 |
| The 2024 report aimed to maintain local supplier spending above 80% in coming years.2024 年报提出，未来几年本地供应商支出占比要维持在 80% 以上。 | The 2025 report recorded 75% procurement from local suppliers and set a forward target above 70%.2025 年报记录本地供应商采购占比为 75%，并将往后目标设为 70% 以上。 Source: annual report 2024, page 44; annual report 2025, pages 52, 84.出处：2024 年年报第 44 页；2025 年年报第 52、84 页。 | Below earlier target; target changed低于原目标；目标已更改 |
| The 2024 report recorded an interim dividend declared on 28 November 2024 at RM0.0125 per share, totalling RM6,875,000.2024 年报记录于 2024 年 11 月 28 日宣布派发中期股息，每股 RM0.0125，总额 RM6,875,000。 | The 2025 report recorded payment of RM6,875,000 on 30 December 2024.2025 年报记录已于 2024 年 12 月 30 日支付 RM6,875,000。 Source: annual report 2024, page 81; annual report 2025, page 147.出处：2024 年年报第 81 页；2025 年年报第 147 页。 | Paid已派发 |
What the reports leave open年报留下待看的事
- The 2MW biomass plant remains a planned project in the 2025 report. Its RM5.0 million IPO allocation was unused, and the group intended to continue participating in the SEDA FiT 2.0 quota programme.2MW 生物质发电厂在 2025 年报中仍属计划项目。其 RM5.0 million 首次公开募股拨款尚未使用，集团表示拟继续参与 SEDA FiT 2.0 配额计划。
Source: annual report 2025, pages 29, 33, 104.出处：2025 年年报第 29、33、104 页。
- At 31 October 2025, contract assets were RM40.4 million and contract liabilities were RM9.1 million. Operations used RM6.0 million of cash. The order book was RM108.2 million; project progress, billing and cash collection remain matters to follow.截至 2025 年 10 月 31 日，合同资产为 RM40.4 million，合同负债为 RM9.1 million。营运使用现金 RM6.0 million。订单额为 RM108.2 million；项目进度、开账单及收款仍是待观察事项。
Source: annual report 2025, pages 32, 33, 116.出处：2025 年年报第 32、33、116 页。
- The group holds 51% of I Precision, and RM1.2 million of I Precision's loss was allocated to non-controlling interests in 2025.集团持有 I Precision 51% 股权；2025 年 I Precision 有 RM1.2 million 亏损分配予非控股权益。
Source: annual report 2025, pages 110, 133.出处：2025 年年报第 110、133 页。
- The 2025 report established its first formal baseline for greenhouse gas emissions reporting. Fugitive emissions were not reported. Data collection was ongoing, and the report expected the data to be ready by the next financial year end.2025 年报首次为正式温室气体排放报告建立基准。报告没有披露逸散排放。数据收集仍在进行，年报预计在下一个财政年度结束前备妥数据。
Source: annual report 2025, pages 71, 72.出处：2025 年年报第 71、72 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-30.内容为公司年报所印的事实，并注明页码；不评级，不构成投资建议。生成日期 2026-10-30。